Serra Automotive’s Post

Acquisition Announcemnt from Joe Serra, Chairman, Serra Automotive (MI) I am pleased to announce that earlier today – Matt Serra, Ron MacEachern, Matt Daugherty and myself – met with the associates of Milosch’s Palace Chrysler – Dodge – Jeep – Ram, in which their owners Don Milosch, Mark Milosch and Brian Milosch, have agreed to sell their dealership to Serra Automotive. Milosch Chrysler-Dodge-Jeep-Ram (CDJR) was founded by Donald Milosch (father of Don, Mark and Brian) – who opened “Don’s Used Cars” in 1960 in Lake Orion, Michigan. In 1967 Mr. Milosch received a Chrysler-Plymouth franchise and in 1973 he added Dodge to the business. The current location of Milosch’s Palace CDJR opened in 1997 and today is recognized as one of the top CDJR dealerships in the United States. Lake Orion, which is part of Orion Township, is in the northern outskirts of Metro Detroit in Oakland County --- a growing community with a current population of over 40,000 in 2019. The dealership is located less than 6 miles from the Stellantis US Headquarters (Stellantis is the owner of the Chrysler, Dodge, Jeep, Ram brands). Founded in 1973, Serra Automotive is the 12th largest Dealer Group in the USA (Automotive News, 2022). Based in Fenton, Michigan, Serra is comprised of 54 dealerships in 7 states and holds 66 automotive franchises throughout its 23 campuses. Serra generated over $3.4 Billion of revenue in 2022 while retailing over 74,000 new and used vehicles.